- Mineral resource company Keras Resources reported first-half losses that nearly doubled from a year ago, as higher costs weighed on performance.

For the six months ended 31 March 2020, pre-tax losses widened to £809K from £439K on-year as administrative and exploration costs jumped to £810K from £436K.

Costs included demerger and exceptional expenses related to the conversion of SGM to SA status and the mining licence application in Togo including the cost of legal advice relating to the licence application, the company said.

'The grant of the exploitation licence in Togo, lockdowns and travel restrictions effecting senior management resident elsewhere may hamper or delay the plans to move forward immediately to the production phase, and to rapidly expand such production,' the company said.

At 9:38am: [LON:KRS] Keras Plc share price was -0.01p at 0.13p

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